Brief: Cargotec Says Kalmar Is Planned To Be Demerged To Form A Separate Listed Company As From 1 July 2024

Hiab Oyj

27/05/2024 19:39

May 27 (Reuters) - Cargotec Corp  CGCBV.HE :
    * KALMAR IS PLANNED TO BE DEMERGED TO FORM A SEPARATE LISTED
COMPANY AS FROM 1 JULY 2024
    * CARGOTEC IS LOOKING FOR A SOLUTION FOR MACGREGOR DURING
2024
    * IF PLANNED ACTIONS ARE COMPLETED, CURRENT CARGOTEC WOULD
COMPRISE OF HIAB AS A STANDALONE BUSINESS.
    * CARGOTEC - BOARD WOULD THEN APPOINT PRESIDENT OF HIAB
BUSINESS
SCOTT PHILLIPS AS PRESIDENT AND CEO OF RENAMED COMPANY BEING
CURRENT CARGOTEC
    * CARGOTEC - SHOULD SUCH ACTIONS BE CARRIED OUT AS PLANNED
CASIMIR
LINDHOLM ANNOUNCED INTENTION TO STEP DOWN AS PRESIDENT AND CEO
AT SUCH POINT
    * CURRENT CARGOTEC CFO MIKKO PUOLAKKA WOULD CONTINUE AS CFO
OF
STANDALONE HIAB
    * CURRENTLY ESTIMATES THAT THESE CHANGES TO TRANSFORM INTO
STANDALONE HIAB COULD TAKE PLACE DURING 2025
    * ALSO AIMS FOR A GROWING DIVIDEND OF 30-50 PERCENT OF EPS
AND TO
KEEP GEARING BELOW 50 PERCENT

Source text for Eikon:  ID:nGNE5PL8tZ 
Further company coverage:  CGCBV.HE 

 ((Reuters.Briefs@thomsonreuters.com;))